How to Buy Palomar Holdings Stock
Palomar Holdings Inc
Palomar Holdings, Inc. , an insurance holding company, provides specialty property insurance to residential and commercial customers.
Palomar Holdings stock last closed at $81.38, down 0.53% from the previous day, and has increased 55.01% in one year. It has overperformed other stocks in the Insurance - Property & Casualty industry by 0.34 percentage points. Palomar Holdings stock is currently +76.57% from its 52-week low of $46.09, and -5.65% from its 52-week high of $86.26.
As of Apr 24, 2024, there are 24.87M shares of PLMR outstanding. The market value of PLMR is $2.02B. In the past 24 hours, 88,180 PLMR shares were traded.
How to Buy Palomar Holdings Stock
Not sure how to invest in Palomar Holdings stock? Here's how.
- Choose where to buy Palomar Holdings stock: You need to decide on an online brokerage, but don't worry - we've tested dozens of online brokerages and apps to help you figure out where to buy Palomar Holdings stock.
- Sign up for your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've identified.
- Deposit money your investment account: Select your method of payment and add your information.
- Analyze Palomar Holdings stock: The Palomar Holdings ticker symbol is PLMR. Is Palomar Holdings stock a good investment? Should you buy shares of PLMR? How do PLMR's underlying business fundamentals look? Do top analysts think Palomar Holdings is a good buy? Why has PLMR's stock price moved recently? (Hint: Our stock research tools can help you figure out if PLMR is a good stock to buy).
- Execute your PLMR trade: Decide if you will purchase PLMR shares at the current market price or use a limit order to purchase PLMR shares at a specific price.
- Get notifications regarding your investment in PLMR: Create a watchlist to get the latest news on your new investment in Palomar Holdings shares.
Step 1: Choose where to buy Palomar Holdings stock
You will need an online brokerage account to access the NASDAQ market and buy PLMR stock.
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Open eToro AccountStep 2: Sign up for your brokerage account
Now that you've picked the best brokerage, the next step is to fill out some personal information so you can invest in PLMR today.
How to Create a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
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Step 3: Deposit money your investment account
Now that you have opened your account on the best stock buying app, you can securely and quickly fund your account:
Check out the walkthrough below to see the process of depositing money into your investment account.
Step 4: Analyze Palomar Holdings stock
Once you have figured out the best place to buy Palomar Holdings stock, it's very important to evaluate their stock prior to investing, so you truly wrap your head around the risk and upside.
Palomar Holdings Numbers
Palomar Holdings Fundamentals
WallStreetZen was created to help average investors perform better fundamental analysis.
You can view all of the due diligence checks on PLMR's stock page.
What is the fair value of PLMR stock?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge PLMR's fair value.
Using relative valuations ratios:
- PLMR could be overvalued based on its P/E ratio of 25.51x, relative to Insurance - Property & Casualty industry P/E ratio of 4.84x
- PLMR may be overvalued based on its P/B ratio of 4.29x, relative to Insurance - Property & Casualty industry P/B ratio of 2.22x
- PLMR may be undervalued based on its PEG ratio of 0.82x
You can do more valuation analysis on PLMR's stock here.
A quick look at PLMR Financials
Signs that PLMR is financially healthy:
- PLMR earnings of $107.42M is not sufficient to cover its interest payments.
- PLMR profit margin has gone up from 15.9% to 21.1% in the past year.
- PLMR's operating cash flow of $116.11M allows it to safely service it's debt of $52.60M.
Signs that PLMR is not financially healthy:
- Total PLMR debt is higher than 5 years ago, relative to shareholder equity.
- PLMR has a relatively high debt to equity ratio of 2.62.
Do Wall Street analysts think it's a good time to buy PLMR stock
Out of 6 Wall Street analysts who give ratings on PLMR, the consensus analyst rating on PLMR is a Buy
It's important to note that analyst ratings are not recommendations, nor are they investment advice.
Latest PLMR Analyst Forecasts
Mark Hughes, a top 2% analyst from Truist Securities maintains PLMR with a strong buy rating and raises their PLMR price target from $72.00 to $88.00, on Feb 16, 2024.
Truist Securities's Mark Hughes raised their price target on Palomar Holdings (NASDAQ: PLMR) by 22.2% from $72 to $88 on 2024/02/16. The analyst maintained their Strong Buy rating on the stock.
Hughes hiked their price target on Palomar Holdings after assessing the company's 2024/02/13-dated Q4 and FY 2023 earnings report.
Noting "the quarter's earnings beat," the analyst predicted "sustained and elevated topline expansion and favorable profitability for Palomar."
Hughes added that "Palomar management highlighted an attractive backdrop for the company as dislocation in the California homeowners market is persisting, while the quake market leader, the [not-for-profit] California Earthquake Authority, is cutting back the coverage it is offering on renewals to its existing policyholders."
Earnings Report
Palomar Holdings reported:
For Q4 2023:
- EPS of $1.11, up 35.4% from Q4 2022's $0.82.
- Underwriting revenue of $95.3M, up 14.3% from Q4 2022's $83.4M.
- Adjusted net income of $28M, up 32.7% from Q4 2022's $21.1M.
- No share repurchases in the quarter, and $43.5M available for future repurchases.
For FY 2023:
- EPS of $3.69, up 33.2% from FY 2022's $2.77.
- Underwriting revenue of $349.3M, up 8.9% from FY 2022's $320.7M.
- Adjusted net income of $93.5M, up 31.1% from FY 2022's $71.3M.
For FY 2024, management guided:
- Adjusted net income of $110M to $115M, including an estimated $3.5M in losses in Q1 from the recent catastrophic California flooding.
Chairman & CEO Mac Armstrong commented: "Q4 provided a strong end to what was a stellar FY 2023.
"When looking at the full year we are especially proud of record gross written premium and adjusted net income, strong top and bottom-line growth and numerous initiatives that led to diversification and reduced earnings volatility.
"Additionally, we introduced multiple new lines of business, including Crop, Environmental Liability and Assumed Reinsurance. This robust and disciplined growth translated into an adjusted return on equity well above the 20% benchmark level espoused in our Palomar 2X strategic plan.”
“Our 'grow where we want to' mantra not only reduces the volatility in our book of business but also provides numerous growth vectors.
"The 2023 execution of Palomar 2X in a generationally hard property cat reinsurance market combined with the introduction of new products instills strong conviction and confidence in what we can accomplish across the organization.
"We exit the year energized by our prospects for profitable growth in 2024 and beyond.”
You can dig deeper into what analysts are projecting on the Palomar Holdings stock forecast page.
PLMR Momentum
PLMR Earnings
Last year, PLMR earnings were $79.20M. During the past five year, PLMR's earnings have grown by 24.42% per year. This was faster than the Insurance - Property & Casualty industry average of 12.57%.
Last year, PLMR revenue was $375.93M. Over the last five year, PLMR's revenue has increased by 38.8% per year. This was faster than the Insurance - Property & Casualty industry average of 11.82%.
Find out more about PLMR's earnings and revenue performance here.
What are PLMR executives and large shareholders up to?
Over the last 12 months, executives and large shareholders at PLMR have sold more shares than they have bought.
Mac Armstrong, CEO and Chairman of PLMR, was the latest PLMR insider to sell. They sold $123,235.38 worth of PLMR shares on Apr 22, 2024.
Research more about who owns PLMR shares here.
Can I rely on PLMR as an income stream?
No, Palomar Holdings doesn't provide an income stream by paying out dividends.
What others are saying about PLMR
One of the primary reasons eToro is our highest-rated brokerage is because of its social trading community.
Click below to learn what other traders have to say.
Step 5: Execute your PLMR trade
You have two main types of orders:
- Market order: A market order is an order to buy or sell a stock at the best price on the market.
Market orders are generally fine for most investors. - Limit order: A limit order is an order to buy or sell a security at a specific price (or better).
If you want to be sure you're buying or selling at an exact price limit, place a limit order.
Press the Open button and eToro will execute your order.
If you need additional info about buying stocks on eToro, watch the how to video below:
Step 6: Get notifications regarding your investment in PLMR
Now that you own some PLMR stock, you'll want to keep up with your stock purchase.
Create a watchlist to get alerted to the latest events about your PLMR stock.
PLMR Feed
How to Buy Stock in Palomar Holdings
To summarize, here are the 6 steps to buy Palomar Holdings stock:
- Choose where to buy Palomar Holdings stock
- Sign up for your brokerage account
- Deposit money your investment account
- Analyze Palomar Holdings stock
- Execute your PLMR trade
- Get notifications regarding your investment in PLMR
If you are looking for a brokerage, eToro is our recommended option.
Get Started with eToro TodayIf you would like to watch your investment in Palomar Holdings, click below.
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